Byers gets new Railtrack deadline

CITY institutions have given Stephen Byers a week to divulge key documents relating to his decision to put Railtrack into administration or face being taken to the High Court.

The Railtrack Shareholders Action Group, which speaks for 45% of the shares in the rail network operator and is seeking up to £2bn in compensation, is angry at the refusal of the Transport Secretary, now on holiday in Asia, to respond by its 31 December deadline. It demanded the information over a month ago.

RSAG chairman Simon Haslam said: 'We still have no idea of the Government's position.'